MARTIN LEWIS Money Saving Expert appeared on Good Morning Britain this morning to reveal which banks are offering cash to customers who switch to them – and you could nab up to £150.

Money Saving Expert Martin Lewis, 46, returned to Good Morning Britain this morning after a break over Christmas. And the financial expert returned with even more money-saving deals and news of which high street stores have the best bargains. One of the new deals for the New Year is banks offering cash to new customers who switch their accounts. Speaking to the ITV hosts, Martin explained which bank has the best deal.

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You can also save up to £300 a month at 5 per cent interest with its linked regular savings account, and most customers get a 0 per cent £250 overdraft too

Money Saving Expert, Martin Lewis

First Direct and HSBC are just two of the banks offering the bonus, but each one comes with different conditions.

He explained: “To kick start the New Year, two banks have relaunched their bonuses for switching accounts. Very useful if the coffers are a little short. Full details of all the options are in Martin’s full top bank account guide, but in brief.

“First Direct has won every customer service poll I’ve done with an 89 per cent rating it great. Last year it stopped offering free cash and instead gave free gadgets, something I thought was a bad move at the time, and it seems now so does it.

“It rekindled its free cash offer and now gives accepted new switchers a free £100 (more via certain sites), you can also save up to £300 a month at 5 per cent interest with its linked regular savings account, and most customers get a 0 per cent £250 overdraft too.”

However, the ITV star warned customers only to take up this offer if they'll be paying in £1,000 a month – as you could be faced with a fee.

Martin continued: “Only do this if you pay in £1,000 a month though (for most people that just means a yearly salary of over £12,600 going in) or eventually it charges a monthly fee.”

Martin Lewis revealed which banks have the best switching bonuses (Image: GETTY/ITV)

Martin Lewis said First Direct have the best switching bonus at the moment (Image: ITV)

HSBC also have a great deal, offering customers £150 within 30 days of moving accounts.

The Money Saving Expert explained: “New switchers to HSBC Advance account get £150 within 30 days of switching. You need to switch minimum two direct debits and pay in at least £1,750 per month.

HSBC’s switching offer also means you’ll have access to a five per cent savings account.

Martin added: “For most that just means paying in a salary of around £25,900 per year. Here too you also get access to a five per cent linked regular saving account you can put up to £250 a month in.”

The 46 year old also urged viewers not to be deterred by switching accounts, reminding people direct debits and standing orders are moved across automatically.

He continued: “And don’t forget switching accounts is easy. Within seven days your old account is closed, any direct debits and standing orders are moved across and any payments going to your old account is auto-forwarded to your new one.

“Plus when opening a bank account you will be credit scored.”

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Martin also told viewers about the new 26-30 Railcard, after it was launched yesterday, telling viewers if they buy the discount card – which gives £30 off most rail fares across Britain – the day before their 31st birthday, it’ll remain valid until the day before they turn 32.

He explained: “The railcard works at any time including the peak commuting time, though there’s a minimum £12 fare between 4.30am and 10am from Monday to Friday (so to get the full third off discount your ticket needs to cost more than £18).

“Plus, you also get a discount on London travel – a third off off-peak single fares and off-peak daily caps on Oyster cards. But it doesn’t work on buying season tickets.”

Martin later spoke about the current January sales, saying ASOS, Topshop, Topman, and Miss Selfridge have up to 70 per cent off, while H&M and Gap have sales of up to 60 per cent.